At 9:00 AM on July 28, 2026, at the Mizuho Bank Ho Chi Minh City Branch office, PetroVietnam Drilling and Well Services Corporation (PV Drilling) officially took ownership of its newly invested jack-up rig.
The ownership handover ceremony for the jack-up rig (expected to be named PV DRILLING X) was attended by PV Drilling's senior executive management, including Vice Presidents Dinh Quang Nhut, Do Danh Rang, and Nguyen Dinh Duong. Representing Mizuho Bank Ho Chi Minh City Branch were Mr. Toshihiro Oguma â General Director, and Mr. Le Phuoc Hoai An â Deputy General Director, alongside representatives of the seller.
Ownership Handover Ceremony of the Jack-up Rig on the morning of July 28, 2026, in Ho Chi Minh City
The newly acquired rig is built on the Keppel FELS MOD V âSuper B Classâ design, certified by ABS. It is capable of drilling to depths of up to 35,000 ft (approx. 10,668 m) and operating efficiently in water depths up to 350 ft (approx. 106 m). Equipped with modern technology, the rig is well-suited for long-term drilling campaigns in offshore regions with complex geological structures and high technical demands.
Sharing many design similarities with PV Drillingâs existing jack-up fleetâincluding PV DRILLING I, II, III, VI, and VIIIâthe new rig allows for seamless operational synergy and personnel deployment. Furthermore, it meets technical requirements to drill for most offshore fields in Vietnam, Southeast Asia, the Middle East, and West Africa.
Immediately following the handover, PV Drilling will initiate Phase 1 of the reactivation process in Namibia over a 45-day period to fulfill international classification society requirements for safe transit back to Vietnam. The rig is expected to arrive at the PTSC Downstream Port in Ho Chi Minh City around late October 2026 for Phase 2 reactivation. This comprehensive phase will involve upgrades, equipment replacements, commissioning, and final system integration to ensure full compliance with classification standards, preparing the rig for commercial operations targeted for Q2 2027.
Expanding its rig fleet continuously over three consecutive years (2024, 2025, and 2026) that bringing its owned offshore fleet to 8 rigs demonstrates PV Drillingâs commitment to bolstering competitiveness, meeting growing client demand, and fulfilling the expectations of shareholders and investors. This strategic milestone highlights PV Drillingâs determination to strengthen internal capacity, seize market opportunities, and achieve stable, efficient, and sustainable growth.
The ownership handover ceremony for the jack-up rig (expected to be named PV DRILLING X) was attended by PV Drilling's senior executive management, including Vice Presidents Dinh Quang Nhut, Do Danh Rang, and Nguyen Dinh Duong. Representing Mizuho Bank Ho Chi Minh City Branch were Mr. Toshihiro Oguma â General Director, and Mr. Le Phuoc Hoai An â Deputy General Director, alongside representatives of the seller.
Ownership Handover Ceremony of the Jack-up Rig on the morning of July 28, 2026, in Ho Chi Minh CityThe newly acquired rig is built on the Keppel FELS MOD V âSuper B Classâ design, certified by ABS. It is capable of drilling to depths of up to 35,000 ft (approx. 10,668 m) and operating efficiently in water depths up to 350 ft (approx. 106 m). Equipped with modern technology, the rig is well-suited for long-term drilling campaigns in offshore regions with complex geological structures and high technical demands.
Sharing many design similarities with PV Drillingâs existing jack-up fleetâincluding PV DRILLING I, II, III, VI, and VIIIâthe new rig allows for seamless operational synergy and personnel deployment. Furthermore, it meets technical requirements to drill for most offshore fields in Vietnam, Southeast Asia, the Middle East, and West Africa.
Immediately following the handover, PV Drilling will initiate Phase 1 of the reactivation process in Namibia over a 45-day period to fulfill international classification society requirements for safe transit back to Vietnam. The rig is expected to arrive at the PTSC Downstream Port in Ho Chi Minh City around late October 2026 for Phase 2 reactivation. This comprehensive phase will involve upgrades, equipment replacements, commissioning, and final system integration to ensure full compliance with classification standards, preparing the rig for commercial operations targeted for Q2 2027.
Expanding its rig fleet continuously over three consecutive years (2024, 2025, and 2026) that bringing its owned offshore fleet to 8 rigs demonstrates PV Drillingâs commitment to bolstering competitiveness, meeting growing client demand, and fulfilling the expectations of shareholders and investors. This strategic milestone highlights PV Drillingâs determination to strengthen internal capacity, seize market opportunities, and achieve stable, efficient, and sustainable growth.
